Lode Resources hits new high-grade silver intercepts at historic Webbs Consol
Lode Resources (ASX: LDR) is looking to bring new life to the New England Fold Belt of north-eastern New South Wales with its exploration activities at the high-grade Webbs Consol silver-base metal project.
The company’s latest drill program at Webbs Consol has obtained additional outstanding high-grade drill intercepts at the Tangoa West Lode target.
The new results at the Tangoa West Lode continue to expand the potential to revitalise Webbs Consol, with assays confirming mineralisation was consistently intersected over substantial widths.
Highlight results include 24.5m at 1,450 g/t of silver equivalent from 144.7m, the third highest grade downhole result to date at Tangoa West.
The hole also produced two very high-grade zones with a total 11.1m at 2,714 g/t of silver equivalent, with a cumulative intercept of 4.3m at 3,362 g/t silver equivalent. It also contained a record Webs Consol hit of 0.6m at 5,291 g/t silver equivalent.
Range of targets being tested
Managing director, Ted Leschke, said that along with its work on the Tangoa West Lode, the company’s current Webbs Consol drill program is testing other lodes discovered by previous drilling, along with several new targets.
The current campaign at Webbs Consol Project will drill 26 holes for approximately 5,000m, with Lode planning to drill down to a depth of 450m in the most highly endowed lodes.
“The latest results from drilling at the Webbs Consol silver project’s Tangoa West Lode speak for themselves,” Mr Leschke said.
“High grade mineralisation over substantial widths are the hallmarks of a well-endowed mineral system.”
The Tangoa West Lode is being targeted by the largest percentage of drill holes, with 11 holes for 3,000m planned down to a depth of a proximately 450m.
Mr Leschke said the company is looking to assess variations in lode dip and plunge by testing Tangoa West from multiple directions.
Data from the current campaign will potentially be utilised to produce a resource estimate in the future.
Webbs Consol’s rich history
The historic Webbs Consol project was discovered in 1890 and was the site of sporadic mining activity up to the mid-1950s.
A number of small, high-grade, silver-lead-zinc-gold deposits have been identified in the permit.
The New England Fold Belt played a major role in the early history of New South Wales mining industry and economy.
Between the 1850s and up to World War I, the Fold Belt produced an estimated US$7 billion in mining output at current prices – or up to 20% of the entire state’s GDP for that period.
The area is currently considered to be significantly underexplored with Lode being a major participant in revitalising the area.